BRT Apartments (NYSE:BRT) Director Buys $139,777.68 in Stock

Key Points

• BRT Apartments Director Fredric Gould purchased $139,777.68 worth of stock, acquiring 8,758 shares at an average price of $15.96 per share, increasing his total holdings to 466,457 shares.
• The company announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 6.1%, with the payout scheduled for October 6th.
• Wall Street analysts have downgraded BRT Apartments from a "hold" to a "sell" rating, although the consensus rating remains a "Moderate Buy" with a price target of $21.00.

BRT Apartments Corp. (NYSE:BRT - Get Free Report) Director Fredric H. Gould bought 8,758 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The shares were acquired at an average price of $15.96 per share, with a total value of $139,777.68. Following the completion of the transaction, the director directly owned 466,457 shares of the company's stock, valued at $7,444,653.72. This trade represents a 1.91% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

BRT Apartments Price Performance

Shares of BRT traded up $0.09 during mid-day trading on Tuesday, reaching $16.31. The stock had a trading volume of 19,790 shares, compared to its average volume of 23,954. The firm has a market cap of $308.75 million, a price-to-earnings ratio of -33.29 and a beta of 0.94. BRT Apartments Corp. has a 12 month low of $14.17 and a 12 month high of $20.22. The business has a fifty day moving average of $15.51 and a 200 day moving average of $15.97. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.75 and a current ratio of 1.75.

BRT Apartments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Wednesday, September 24th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 24th. This represents a $1.00 dividend on an annualized basis and a yield of 6.1%. BRT Apartments's dividend payout ratio is presently -204.08%.

Institutional Trading of BRT Apartments

Several hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. lifted its position in shares of BRT Apartments by 111.8% during the second quarter. Osaic Holdings Inc. now owns 1,809 shares of the financial services provider's stock valued at $28,000 after buying an additional 955 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of BRT Apartments by 328.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,236 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 2,480 shares during the last quarter. Tidal Investments LLC raised its position in shares of BRT Apartments by 22.4% in the 2nd quarter. Tidal Investments LLC now owns 23,454 shares of the financial services provider's stock valued at $367,000 after purchasing an additional 4,286 shares during the last quarter. BNP Paribas Financial Markets raised its position in BRT Apartments by 388.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,139 shares of the financial services provider's stock worth $49,000 after buying an additional 2,497 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in BRT Apartments by 1.0% during the 2nd quarter. Prudential Financial Inc. now owns 77,205 shares of the financial services provider's stock valued at $1,207,000 after acquiring an additional 770 shares during the period. 29.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of BRT Apartments from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $21.00.

BRT Apartments Company Profile

BRT Apartments Corp. is a real estate investment trust. It engages in the ownership, operation, and holding interests in joint ventures that own and operate multi-family properties. The company was founded in June 1972 and is headquartered in Great Neck, NY.